Each one in plain English, with the numbers worked through for a shareholder.
27 Dec 2021material agreement● NeutralMajor
The company agreed on December 15, 2021 to buy 51% of Honduran miner Commsa (Rio Jalan gold project) from its sole shareholder Juan Lemus for $1,000,000 cash and 5,000,000 shares, and to provide $7,500,000 of working capital, effective January 1, 2022. The filing says it has no commitments for the financing needed and claimed the mines were already producing gold, a statement later corrected.
Auditor AJ Robbins retired and declined to stand for re-appointment on May 5, 2021, and the company engaged Gries & Associates of Denver. The filing states no disagreements, and AJ Robbins' reports on 2019 and 2020 included going-concern doubt.
Auditor MaloneBailey resigned effective October 29, 2019, and the company appointed AJ Robbins CPA to audit the year ended June 30, 2019. The filing states no disagreements, but MaloneBailey's earlier report carried going-concern doubt and the company disclosed material weaknesses in its controls.
19 Aug 2019capital raising announcement● NeutralMajor
The company closed an asset purchase from Troy Mining Corporation (78 gold claims near El Portal, California), paying with 1,900,000 new Series B Preferred shares and a $500,000 note, $50,000 of it paid at closing. This is a direct asset purchase rather than the 85% stock deal in the 2018 letter of intent. It funded the first payment with a $50,000 convertible note at 10% interest convertible at $0.05 per share, and the filing says the assets go back to Troy if the note defaults. The preferred shares add to the share count when converted.
1 Nov 2018asset acquisition disposition● NeutralMajor
The company signed a letter of intent with Troy Mining Corporation to buy 85% of Troy for $500,000, paid over time, with the remainder to come by share exchange with 13 minority holders. Troy owns 78 gold claims (about 4,800 acres) in Mariposa County, California, and a processing mill. This follows the June 2018 mention of Troy talks, but it is subject to a definitive agreement and financing the company says it lacks.
The company got a six-month exclusive option to buy the Starving Lion assets (Bridge Mine gold rights, El Chocon magnesite mine rights, and the Genesis extraction process) for $1,000,000 cash plus stock equal to 58% of its fully diluted post-closing shares. This firms up the earlier letter of intent; the filing says it is contingent on raising financing it does not yet have commitments for, and a closing would hand Starving Lion majority ownership.
Now named Star Alliance International Corp., the company signed a binding letter of intent with Starving Lion, Inc. to acquire a magnesium mine in El Progresso and a gold mine in Livingston, Guatemala, plus a gold extraction process. It also said it aims to bring its SEC filings current within about 30 days and is still negotiating to buy all of Troy Mining International, Inc.
Asteriko Corp. replaced auditor M&K CPAs with Malone Bailey LLP, effective January 23, 2017. The filing says there was no disagreement, but M&K's reports for fiscal years 2015 and 2016 carried going-concern doubt paragraphs. The company's address had moved to Bangkok, Thailand.